Richly Rewards Health Insurance and Hospital CEOs
Instead of treating more patients, insurance companies and hospitals could use Prop 56 funds to more
richly reward their CEOs and senior executives.
Prop 56 has virtually no taxpayer accountability for how health insurance companies and other providers spend the new tax money. Nor are health insurance companies subject to the new audits that Prop 56 requires.
They even locked into the law a funding formula that gives themselves 82% of the new revenue.
What are people saying?
“At a time when the California state budget has billions in surplus revenue, is this really the right time to be raising taxes—especially when the revenue will have NO real taxpayer accountability?”
- Tom Hudson
President, California Taxpayer Protection Committee